Denbury Resources Inc. (DNR) Receives $2.13 Consensus Target Price from Brokerages

Shares of Denbury Resources Inc. (NYSE:DNR) have been assigned an average rating of “Hold” from the eleven analysts that are covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $2.13.

Several brokerages have recently commented on DNR. KeyCorp reiterated a “hold” rating on shares of Denbury Resources in a report on Monday, November 13th. Royal Bank of Canada reiterated a “hold” rating and set a $1.50 price objective on shares of Denbury Resources in a report on Friday, September 29th. ValuEngine lowered Denbury Resources from a “hold” rating to a “sell” rating in a report on Sunday, December 31st. Zacks Investment Research upgraded Denbury Resources from a “hold” rating to a “buy” rating and set a $1.50 price objective for the company in a report on Tuesday, October 10th. Finally, Imperial Capital began coverage on Denbury Resources in a report on Tuesday, October 3rd. They set an “in-line” rating and a $2.00 price objective for the company.

Denbury Resources (NYSE DNR) traded up $0.08 during trading on Tuesday, reaching $2.43. The company’s stock had a trading volume of 6,773,646 shares, compared to its average volume of 9,620,000. The company has a debt-to-equity ratio of 5.91, a quick ratio of 0.53 and a current ratio of 0.53. The stock has a market capitalization of $979.40, a price-to-earnings ratio of -2.70 and a beta of 3.56. Denbury Resources has a one year low of $0.91 and a one year high of $3.87.

Denbury Resources (NYSE:DNR) last posted its earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.05. The company had revenue of $266.56 million during the quarter, compared to analyst estimates of $261.84 million. Denbury Resources had a positive return on equity of 0.28% and a negative net margin of 32.50%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. research analysts anticipate that Denbury Resources will post 0.09 earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the company. Northwestern Mutual Investment Management Company LLC purchased a new position in Denbury Resources in the 2nd quarter worth $217,000. Piedmont Investment Advisors LLC raised its stake in Denbury Resources by 261.7% in the 2nd quarter. Piedmont Investment Advisors LLC now owns 86,127 shares of the oil and natural gas company’s stock worth $132,000 after acquiring an additional 62,312 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in Denbury Resources by 11.5% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 96,950 shares of the oil and natural gas company’s stock worth $148,000 after acquiring an additional 10,000 shares during the last quarter. LMR Partners LLP purchased a new position in Denbury Resources in the 3rd quarter worth $140,000. Finally, Schroder Investment Management Group purchased a new position in Denbury Resources in the 3rd quarter worth $184,000. Hedge funds and other institutional investors own 80.23% of the company’s stock.

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Denbury Resources Company Profile

Denbury Resources Inc is an independent oil and natural gas company. The Company’s operations are focused in two operating areas: the Gulf Coast and Rocky Mountain regions. Its properties with proved and producing reserves in the Gulf Coast region are situated in Mississippi, Texas, Louisiana and Alabama, and in the Rocky Mountain region are situated in Montana, North Dakota and Wyoming.

Analyst Recommendations for Denbury Resources (NYSE:DNR)

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